Acme Solar Secures Rs 1,988-Cr Loan

New Delhi: Acme Solar Holdings on Thursday said it has raised Rs1,988 crore from state-owned Power Finance Corporation (PFC) to fund a 300 MW hybrid project awarded to the company through a SECI auction.

The project will be located in high-resource potential areas, with solar capacity to be developed in Bikaner, Rajasthan, and wind sites in Bhuj, Gujarat, Acme Solar Holdings said in a statement. “ACME Renewtech Pvt Ltd, a subsidiary of Acme Solar Holdings, has successfully secured Rs1,988 crore in term loan financing from PFC to fund the development and construction of a 300 MW solar-wind hybrid renewable energy project,” the company said.